Connect With PPD
Follow Us:
Economy

U.S. Trade Deficit Fell $1.2 Billion in August: Net Positive for 3Q GDP

Cargo containers sit idle at the Port of Los Angeles as a back-log of over 30 container ships sit anchored outside the Port in Los Angeles, California, February 18, 2015. (Photo: Reuters)

The U.S. trade deficit fell $1.2 billion to $42.4 billion in August, a net positive for third-quarter (3Q) gross domestic product (GDP). The data beat the median forecast marginally, which called for $42.5 billion.

The report released by the U.S. Census Bureau and the U.S. Bureau of Economic Analysis (BEA), through the Department of Commerce, showed exports gained $0.8 billion to $195.3 billion from July. Imports declined by $0.4 billion to $237.7 billion.

The decrease in the trade deficit was fueled by a decline in the goods deficit of $0.9 billion to $64.4 billion and an increase in the services surplus of $0.3 billion to $22.0 billion.

Year-to-date, the goods and services deficit increased $29.1 billion, or 8.8%, from the same period in 2016. Exports increased $84.9 billion or 5.8%. Imports increased $114.0 billion or 6.4%.

The deficit with the European Union (EU) decreased $1.2 billion to $10.9 billion in August. Exports increased by $1.4 billion to $24.2 billion, while imports increased $0.2 billion to $35.1 billion.

The politically-sensitive U.S. trade deficit with China fell $2.1 billion to $29.7 billion in August. Exports increased $0.8 billion to $11.6 billion, while imports decreased $1.2 billion to $41.3 billion.

READ FULL STORY

SubscribeSign In
PPD Business Staff

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

Share
Published by
PPD Business Staff

Recent Posts

Media’s Worst Russian Collusion Sins May Soon Be Repeated

The most damning journalistic sin committed by the media during the era of Russia collusion…

1 year ago

Study: Mask-Mandates and Use Not Associated With Lower Covid-19 Case Growth

The first ecological study finds mask mandates were not effective at slowing the spread of…

3 years ago

Barnes and Baris on Big Tech’s Arbitrary Social Media Bans

On "What Are the Odds?" Monday, Robert Barnes and Rich Baris note how big tech…

4 years ago

Barnes and Baris on Why America First Stands With Israel

On "What Are the Odds?" Monday, Robert Barnes and Rich Baris discuss why America First…

4 years ago

Personal Income Fell Significantly in February, Consumer Spending Weaker than Expected

Personal income fell $1,516.6 billion (7.1%) in February, roughly the consensus forecast, while consumer spending…

4 years ago

Study: Infection, Vaccination Protects Against Covid-19 Variants

Research finds those previously infected by or vaccinated against SARS-CoV-2 are not at risk of…

4 years ago

This website uses cookies.